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Before I sign off I wanted to show you a chart I stumbled upon in today's am/FX by @donnelly_brent (you miss a lot if you do not follow/subscribe)
In this market more than ever, one has to be open minded.
Daily observations below after which go read the rest of his piece 👇
In this market more than ever, one has to be open minded.
Daily observations below after which go read the rest of his piece 👇
@donnelly_brent Under the radar📡:
1. Relative strength: megas, $XHB, $XME
#relativestrength
2. Relative weakness: $XLP, $SMH, $HG_F
#relativeweaknes
1. Relative strength: megas, $XHB, $XME
#relativestrength
2. Relative weakness: $XLP, $SMH, $HG_F
#relativeweaknes
@donnelly_brent Relative strength notes 🟢:
1. $XHB - loved the long-end rates move
2. $XME - new high close for the year
3. megas finally up from oversold levels - $AAPL, $AMZN, $GOOG, $META
1. $XHB - loved the long-end rates move
2. $XME - new high close for the year
3. megas finally up from oversold levels - $AAPL, $AMZN, $GOOG, $META
Let's go back to the previous times gaps ups / downs were bought / faded with relation to inflation (= you are invited to have a look at my memory bias)
The chart and subsequent observations are below, the takeaway is up to you but I got my short expo decreased
The chart and subsequent observations are below, the takeaway is up to you but I got my short expo decreased
Under the radar📡:
1. Relative strength: $XLP, $XLU, $XLV, $XME, fertilzers
#relativestrength
2. Relative weakness: $XLY, $SMH, $KRE
#relativeweaknes
1. Relative strength: $XLP, $XLU, $XLV, $XME, fertilzers
#relativestrength
2. Relative weakness: $XLY, $SMH, $KRE
#relativeweaknes
Relative strength notes 🟢:
1. $XLP, $XLU, $XLV - congrats to the knife catchers
2. $XME - steel bigly up $CLF, $X, $AA, $NUE; big miners $RIO and $BHP doing well too
3. $MOS, $NTR nicely looking charts; when $CF?
1. $XLP, $XLU, $XLV - congrats to the knife catchers
2. $XME - steel bigly up $CLF, $X, $AA, $NUE; big miners $RIO and $BHP doing well too
3. $MOS, $NTR nicely looking charts; when $CF?
1) Guys, where are the good old days when the market used to puke into the close? It is not the 0DTE as there were 0DTEs before
I cannot seem to remember exactly when was the last one but i don't remember seeing one for months. Similar with rallies but I can recall a couple
I cannot seem to remember exactly when was the last one but i don't remember seeing one for months. Similar with rallies but I can recall a couple
2) Full disclosure :
Recongnizing there was a seller today and a lot of stops beneath the lows I got some 393-392 $SPY put spreads for 12c around 2pm
Seemed quite cheap for an index with a catalyst sitting at a 0.4% loss for the day and a heavy trend to the lows.
Recongnizing there was a seller today and a lot of stops beneath the lows I got some 393-392 $SPY put spreads for 12c around 2pm
Seemed quite cheap for an index with a catalyst sitting at a 0.4% loss for the day and a heavy trend to the lows.
3) Max profit of c. 9x was a 0.65% away, I found that tempting.
After the failed attempt to take out the stops at the lows I exited the position at 3 pm for 10c. 2c (without comissions) loss was totally worth it, would take the trade again if I had the chance.
Observations 👇
After the failed attempt to take out the stops at the lows I exited the position at 3 pm for 10c. 2c (without comissions) loss was totally worth it, would take the trade again if I had the chance.
Observations 👇
Proud to announce that lately I have been doing VERY little in terms of buying and selling. Cuz if I had, I would have been thrown by that market left and right.
Hopefully, tomorrow we are finally gonna have some resolution to the choppiness. 🔪
Tickers 👇
Hopefully, tomorrow we are finally gonna have some resolution to the choppiness. 🔪
Tickers 👇
Under the radar📡:
1. Relative strength: $XHB, $KRE, $XLI, $XLB
#relativestrength
2. Relative weakness: $FXI, $SOXX
#relativeweaknes
1. Relative strength: $XHB, $KRE, $XLI, $XLB
#relativestrength
2. Relative weakness: $FXI, $SOXX
#relativeweaknes
Relative strength notes 🟢:
1. $XHB - jaw-dropping performance after $PHM earnings. I don't think c. 9%+ is typical ER for this one.. A bit more euphoria, cancelation of priced cuts and homebuilders will be short again
2. $XLI, XLB - economy bid; transportation good $FDX, $UPS
1. $XHB - jaw-dropping performance after $PHM earnings. I don't think c. 9%+ is typical ER for this one.. A bit more euphoria, cancelation of priced cuts and homebuilders will be short again
2. $XLI, XLB - economy bid; transportation good $FDX, $UPS
If you happen to follow us and read our weekly attempts to make sense out of markets,
you must know we expected some normalization after what happened on Friday.
When uber crap squuezes higher, it is usally a good sign that indices are due for a pause.
Today 👇
you must know we expected some normalization after what happened on Friday.
When uber crap squuezes higher, it is usally a good sign that indices are due for a pause.
Today 👇
Under the radar📡:
1. Relative strength: $PFF, $PGX, $XLP
#relativestrength
2. Relative weakness: $SOXX, $XLV, $UNG & $USO, $XLE
#relativeweaknes
1. Relative strength: $PFF, $PGX, $XLP
#relativestrength
2. Relative weakness: $SOXX, $XLV, $UNG & $USO, $XLE
#relativeweaknes
Relative strength notes 🟢:
1. $PFF, $PGX - those do not wanna give up..once the EOM/BOM inflows are over I think this will change
2. $XLP - only green thing today; chart is stuck, same as $XLU; do not touch territory for me
1. $PFF, $PGX - those do not wanna give up..once the EOM/BOM inflows are over I think this will change
2. $XLP - only green thing today; chart is stuck, same as $XLU; do not touch territory for me
